EOS crypto rolls out significant update, but still fails to crack top-50 – Why?
The post EOS crypto rolls out significant update, but still fails to crack top-50 – Why? appeared on BitcoinEthereumNews.com.
EOS has fallen by over 90% from its ATH The network is set to have its hard fork on 25 September EOS recently released a long-awaited network upgrade ahead of its upcoming hard fork, marking its first major update in years. This upgrade introduces several new features aimed at enhancing the network’s functionality. However, despite the positive developments surrounding the upgrade and the upcoming hard fork, EOS has seen only a mild positive reaction in the market. Also, EOS continues to rank outside the top 50 cryptocurrency assets by market capitalization. EOS gets stable upgrade According to an official announcement from the EOS Network Foundation, the network has just launched its Spring 1.0 upgrade, officially named Antelope Spring v1.0.0. This marks the most significant upgrade for EOS since its inception nearly seven years ago. The release highlights that the upgrade will enhance the network’s performance, security, and scalability, making it better equipped to handle larger transaction volumes and improve overall network efficiency. These improvements are expected to make EOS more competitive and capable of supporting a broader range of decentralized applications (dApps). With the upgrade in place, EOS is positioning itself to address key issues and pave the way for its upcoming hard fork. This can signal a potential turning point for the network as it seeks to regain momentum in the crypto space. EOS sees minimal response An analysis of EOS’s price trend revealed that it has been on a persistent downtrend over the past several months. The short-moving average (yellow line) has doubled as a trend line, confirming the declining pattern. This yellow line acted as a consistent resistance level for EOS for nearly six months, preventing any sustained upwards movement. Source: TradingView At the time of writing, EOS was trading at around $0.466, following a modest hike…
Filed under: News - @ September 8, 2024 3:03 am